Tightwadism

Referred by John Tierney (yet another new blog!), I took the survey put up by George Loewenstein and others on whether you are a tightwad or a spendthrift.

People who think of themselves as either tightwads or spendthrifts supposedly are less happy than people in between. But I think of myself as a tightwad (I don't know how I came out in the survey) and I think of myself as happy. And, as you know, I think of happiness research as mostly bunk.

Comments and Sharing

Tightwads and spendthifts usually have psychological problems compared to those in between. Tightwads can't bear to part with money which they see as part of themselves while spendthifts cast it away in the hope it will bring happiness. Spend less than what you earn but not less than what you can afford.

Blogging software: Powered by Movable Type 4.2.1.
Pictures courtesy of the authors.
All opinions expressed on EconLog reflect those of the author or individual commenters, and do
not necessarily represent the views or positions of the Library of
Economics and Liberty (Econlib) website or its owner, Liberty Fund,
Inc.

The cuneiform inscription in the Liberty Fund logo is the
earliest-known written appearance of the word
"freedom" (amagi), or "liberty." It
is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.